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I recently attended the 2023 AICPA National Conference for Banks and Savings Institutions. Speakers at the conference, which took place September 11-13 in Washington, DC, covered the economy, digital assets, regulatory developments, financial innovation, artificial intelligence (AI) and other current topics affecting financial institutions as well as the accounting and auditing

Introduction The IRS yesterday finally became fed up enough with bogus Employee Retention Credit claims that it turned off the spigot, issuing a moratorium through at least the end of this year on processing any new claims. It also is ramping up scrutiny of existing claims and providing some off-ramps

The Current Expected Credit Loss Standard (CECL) was issued in 2016 under Accounting Standards Update (ASU) 2016-13 and has since undergone the Financial Accounting Standards Board (FASB) post-implementation review process to address stakeholder concerns over the practical implications of implementing and applying the standard at banks and financial institutions. This

The number of tax-related scams has been on the rise recently, with identity thieves relying on email and text messages to pose as the IRS to threaten taxpayers, offer a means to collect a refund, or trick recipients into filing illegitimate claims. The IRS shared a number of such scams

Co-authored by Stanley Rose Among other legislation related to the State’s budget negotiations, SP 800/LD 1964 was signed into law recently by Maine Governor Janet Mills. It (1) created a mandatory, new, government-run family leave program, and (2) imposes a new tax on many employers and employees to fund the